Dividend Stocks: Coal India, ONGC, ITC, Power Grid among top 10 picks by Religare Broking

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Coal India, Gujarat State Fertilizer & Chemicals (GSFC), Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC), 360 One Wam, Oil and Natural Gas Corporation , Tech Mahindra, PTC India, VST Industries ITC , Power Grid Corporation of India are amongst top 10 dividend yield picks of Religare Broking.The financial statistic termed as dividend yield illustrates how much a company pays out in dividends annually in relation to the price of its stock. A dividend yield of three to five percent is seen as healthy and favorable.

Nevertheless it also depends on the market conditions and dividend yield plays one of the important roles based on which investors take decision on investing in the particular stock. It serves as a gauge for the profits investors are earning on their stock.Also Read- India witnessing a mini-Goldilocks moment, says Motilal Oswal, lists ICICI Bank, SBI, ITC among 21 top picksThe top stock on Religare's list of the top 10 dividend yielding stocks is Coal India, with a yield of 4.9%.

In FY23 and FY22, Coal India's dividend per share stood at ₹24.3 and ₹17, respectively.The second and the third place in the list among dividend yield stocks is occupied by Gujarat State Fertilizers & Chemicals Ltd and Gujarat Narmada Valley Fertilizers & Chemicals. Gujarat State Fertilizers & Chemicals Ltd and Gujarat Narmada Valley Fertilizers & Chemicals have a 4.7% dividend yield each.The asset and wealth management firm 360 One Wam, with a 4.4% dividend yield, is the fourth important dividend-paying stock on Religare's list.